Xiaomi president says chip shortage has increased costs, may pass on to consumers

SHANGHAI: Chinese smartphone maker Xiaomi Corp president Wang Xiang said on Wednesday that the global chip shortage was increasing the company’s costs and implied that in some cases the prices of its products might rise as a result.

“We will continue to optimize the costs of our hardware devices, that’s for sure,” he said during the company’s fourth quarter earnings call.

“To be honest, we will do our best to offer the best price we can to consumers. But sometimes, we may have to pass part of the cost increase to the consumer in different cases.”